These forms can be acquired from registered property dealers and real estate agents which make necessary arrangements for property acquisition.Sample drawings are layouts of house plans that show the architectural detailing and position of respective rooms.

These drawings should be drawn by a certified architect and conform to the byelaws of the pertinent authority such as the KBCA, CBC or the DHA.

TYPES OF FORMS:

Some common types of forms include the following:

Completion form

Architect’s Certificate

Demolition form

Propose/alteration form

COMPLETION FORM:

DEMOLITION FORM

Propose/Alteration Form:

SAMPLE DRAWINGS

2. PROPERTY RELATED DOCUMENTS & PROCESS OF BUYING AND SELLING:

These are official documents that are necessary for property acquisition or sale of some sort. Three basic types of documents are mentioned below:

AGREEMENT OF SALE

INDENTURE OF LEASE

CONVEYANCE DEED

AGREEMENT OF SALE:

This document is a bond declaring the legal procedures that are adopted for selling a property.

This document is between two parties, that is; the seller and the buyer.

It guarantees full legal support, if one party decides to dis obey the rules mentioned in the document; and that party is accountable to law.

SAMPLES:

Some samples of agreement of sale are given below:

INDENTURE OF LEASE:

A contract binding one party into the service of another for a specified term

This document is also in between two parties, of which; one is the lessee and the other is the Sub-lessee.

It is also accountable under law and can be produced in the court as evidence, in case of fraud; by one of the parties.

PROCESS OF BUYING AND SELLING:

The process of buying and selling can be broadly classified into two categories.

LEASE

TRANSFER

LEASE:

This process is the most safest and reliable method for property dealing and purchasing. It includes the documents mentioned above. This process involves five steps; which are

Lease

Sub-lease

Sale deed

Power of attorney

Sub- Power of attorney

1) LEASE:

A contract granting use or occupation of property during a specified time for a specified payment.

2) SUB-LEASE:

Lease or rent all or part of (a leased or rented property) to another person.

3) SALE DEED:

This document is used when the sub-lessee decides to sell the property to another person.

A legal instrument authorizing someone to act as the grantor's agent

Grant: a transfer of property by deed of conveyance.

5) SUB- POWER OF ATTORNEY:

This the last stage in the process of buying and selling. After this stage, if the concerned person decides to sell the property for the sixth consecutive time; then the process starts with the Sale deed.

All the documents that are needed during the lease process are attested on a stamp paper.

The value of the stamp paper can very depending on the size and dimensions of the property in monetary terms.

All the documents are prepared by the estate agent and attested in presence of the registrar or some government official.

The signatures are made on the stamp paper by both the lessee and the sub-lessee.

Transfer property means to pass the property fro one person to another.

This can be either in terms of inheritance or directly transfer the property from one to another.

A formal agreement is prepared declaring that the property has been transferred to the required person lawfully and its legal worth is also mentioned.

This document is prepared in case the person transferring the property dies, so it can be used as evidence that the procedure was legal and true.

PRECAUTIONS:

Precautions to be taken before purchasing a valid property (Land or House/flat)

Ensure that the property is neither mortgaged with any bank nor under litigation in a court of law.

This can be ascertained by obtaining Non-encumbrance certificate from the office of the Sub-Registrar of the area concerned where the property falls.

Ensure that seller has genuine title to the property.

Has no defective title to land, that might put into jeopardy the Seller under the law to dispose-off the property.

This can be ascertained from the land allotting agency.

To avoid legal complications, make sure that all the original documents with complete chain of title are in order and handy available with the Seller.

If the owner lives abroad, a power of attorney, duly certified by the Embassy or the Consulate General of Pakistan and registered with the area registrar is required.

Normally documentation varies from area to area and city to city, hence, is subject to the requirement of local authorities, such as the Clifton Cantonment Board, Defense Housing Authority (DHA), LDA in Lahore, CDA in Islamabad, Karachi Development Authority, and the other societies, functional in the area where the property is being purchased.

Property forms refer to the relevant documents that are needed for the purchase, rent or to lease a public or private property.

1 comment:

Makeen.Pk is Pakistan's leading real estate portal. We connect buyers with sellers and owners with renters across the country. We are quickly becoming a central online hub for all things real estate in the country.In Residential Property we have houses for sale in lahore and in Commercial property we have plots for sale in lahore .For More Infor please contact us .